ECON 7200OL - Economic Principles (M)

Online - Trimester 1 - 2020

This is an introductory course in economics, which introduces students to the principles, concepts, data and analytical frameworks that economists use to understand the world around us. Students develop an understanding of how the economy works and how individuals, firms and governments make decisions and interact with one another in markets and other environments. The course also focuses on the ability of students to communicate about real-world issues and public policy debates through the lens of economics.

  • General Course Information
    Course Details
    Course Code ECON 7200OL
    Course Economic Principles (M)
    Coordinating Unit School of Economics
    Term Trimester 1
    Level Postgraduate Coursework
    Location/s Online
    Units 3
    Available for Study Abroad and Exchange N
    Incompatible Introductory Macroeconomics and Microeconomics
    Restrictions Not available to PGCW Economics Programs
    Course Description This is an introductory course in economics, which introduces students to the principles, concepts, data and analytical frameworks that economists use to understand the world around us. Students develop an understanding of how the economy works and how individuals, firms and governments make decisions and interact with one another in markets and other environments. The course also focuses on the ability of students to communicate about real-world issues and public policy debates through the lens of economics.
    Course Staff

    Course Coordinator: Dr Mark Dodd

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

    Due to the fact that this is an online course, the standard timetabling information will not give an accurate view of the time requirements of the course. Please refer to detailed information available on the course MyUni page after you have enrolled for important details of when work is expected in this course. Please note that students are expected to work on this course on a weekly basis, and the course activities and assessments are organised on that basis.
  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1. Demonstrate a solid understanding of the core concepts and tools of economics.
    2. Relate basic economic theory and principles to current economic issues and evaluate related public economic policies.
    3. Apply economic principles and reasoning to solving business problems.
    4. Interpret charts, graphs, and tables and use the information to make informed judgments.
    5. Communicate their knowledge and understanding of economic issues using written, verbal and visual expression.
    6. Critically reflect on the broader social consequences of economic decision making.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1,2,3
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    2,3,4
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    5
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    5
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    2,3,6
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    2,3
  • Learning Resources
    Required Resources
    Hubbard, R.G., Garnett, A.M., Lewis, P., and O’Brien, A.P. 'Essentials of Economics' 4th Edition, Pearson.

    Paperback edition ISBN: 9781488616983
    Electronic versions are also available from the publisher.
    Online Learning
    This is an online course, so the course content, engagement with staff and classmates, and the assessment all occur through the online course website. Students are expected to regularly interact with the online resources, and also to regularly check their student email accounts.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is structured around weekly engagement. Although you do not have in-person classes for this online course, it is important that you set aside time regularly each week to study the assigned content and attempt the required engagement tasks, including those that are required for your assessment grades, and those that are assigned to support your learning.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The University expects full-time students to devote a total of at least 156 hours to their studies over the duration of a 3-unit course. Students should ensure that they devote an appropriate number of hours to this course each week on a regular basis.
    Learning Activities Summary

    Note: This schedule is subject to change.

    Week Topic Textbook Reading
    1 Introduction / Choices and Trade-offs Chapters 1 & 2
    2 Demand and Supply Chapter 3
    3 Elasticity / Economic Efficiency Chapters 4 & 5
    4 Government Intervention in the Market Chapters 5 & 11
    5 Firms, Production and Costs Chapter 6
    6 Perfect Competition and Monopoly Chapters 7 & 8
    7 Monopolistic Competition and Oligopoly Chapter 9
    8 GDP, Unemployment and Inflation Chapters 13 & 14
    9 Aggregate Demand and Aggregate Supply Chapter 15
    10 Money and Monetary Policy Chapters 16 & 17
    11 Fiscal Policy Chapter 18
    12 The Exchange Rate and International Trade Chapters 19 & 20
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Due Date / Week Weighting Length Learning Outcomes
    Weekly Assignments Weekly 60% 1-2 Pages 1,2,3,4,5,6
    Weekly Online Quizzes Weekly 30% 5 Questions 1,2,3,4,5,6
    Discussion Participation Weekly 10% N/A 1,2,3,4,5,6
    Total 100%

    Due to the current COVID-19 situation modified arrangements have been made to assessments to facilitate remote learning and teaching. Assessment details provided here reflect recent updates.

    The examination will now be an examination submitted through MyUni rather than an invigilated examination. Further details will be provided in due course
    Assessment Detail
    Weekly Assignments 60%
    Assignments will be due each week, and may contain a variety of formats including written responses and other activities. Details regarding the content, format, requirements and due dates for each assignment will be provided on MyUni, please refer there for further details.

    Weekly Online Quizzes 30%
    Multiple choice quizzes will be conducted online each week. See MyUni for further information regarding format, content, requirements and deadlines.

    Discussion Participation 10%
    Students are required to participate in assigned discussions each week. Grades will be assigned based on whether it is a substantive contribution to the discussion, shows knowledge of the course content, and shows a thoughtful response to other students' posts. Further details are available on MyUni.
    Submission
    Refer to MyUni for further instructions regarding submission.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.